Temas Resources to roll back shares 1 for 9
2023-06-08 19:54 ET - News Release
Mr. Samuel Hardy reports
TEMAS RESOURCES ANNOUNCES SHARE CONSOLIDATION
Temas Resources Corp. plans to consolidate all of its issued and outstanding common shares on the basis of nine existing common shares for one new common share.
Upon completion of the consolidation, the company is expected to have 9,832,403 issued and outstanding common shares. No fractional shares will be issued because of the consolidation, and all fractional interests will be rounded down to the nearest whole number of common shares. Each shareholder's percentage of ownership in the company and proportional voting power will remain unchanged after the consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.
Management of the company believes that the proposed consolidation will position the company to gain greater access to capital given the current market conditions.
The company does not intend to change its name or its current trading symbol in connect with the proposed consolidation. The consolidation is subject to all necessary regulatory approvals. In a subsequent news release, Temas will confirm the effective date of the consolidation and other pertinent details, including the new Cusip and ISIN as a result of the consolidation.
About Temas Resources Corp.
Temas Resources is focused on the advanced La Blache and Lac Brule iron-titanium-vanadium projects in Quebec. The critical metals the company is exploring for are key to the national mineral independence. Additionally, the company invests in, and works to apply, its green mineral recovery technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
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